Greystone Managed Investments Inc. lowered its position in shares of The Priceline Group Inc. (NASDAQ:PCLN) by 26.9% during the second quarter, Holdings Channel reports. The fund owned 3,869 shares of the business services provider’s stock after selling 1,421 shares during the period. Greystone Managed Investments Inc.’s holdings in The Priceline Group were worth $7,237,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of The Priceline Group by 3.0% in the first quarter. Vanguard Group Inc. now owns 3,204,680 shares of the business services provider’s stock worth $5,704,234,000 after buying an additional 93,992 shares during the last quarter. FMR LLC increased its stake in shares of The Priceline Group by 3.8% in the first quarter. FMR LLC now owns 1,840,149 shares of the business services provider’s stock worth $3,275,411,000 after buying an additional 67,569 shares during the last quarter. Jennison Associates LLC increased its stake in shares of The Priceline Group by 3.0% in the first quarter. Jennison Associates LLC now owns 810,260 shares of the business services provider’s stock worth $1,442,238,000 after buying an additional 23,694 shares during the last quarter. Edgewood Management LLC increased its stake in shares of The Priceline Group by 3.4% in the first quarter. Edgewood Management LLC now owns 568,388 shares of the business services provider’s stock worth $1,011,714,000 after buying an additional 18,746 shares during the last quarter. Finally, Janus Capital Management LLC increased its stake in shares of The Priceline Group by 1.0% in the first quarter. Janus Capital Management LLC now owns 560,060 shares of the business services provider’s stock worth $996,885,000 after buying an additional 5,434 shares during the last quarter. 95.01% of the stock is owned by institutional investors.

Shares of The Priceline Group Inc. (NASDAQ:PCLN) opened at 1854.17 on Friday. The Priceline Group Inc. has a 52 week low of $1,392.44 and a 52 week high of $2,067.99. The company has a market cap of $90.96 billion, a price-to-earnings ratio of 39.38 and a beta of 1.42. The firm’s 50-day moving average price is $1,950.91 and its 200 day moving average price is $1,809.82.

The Priceline Group (NASDAQ:PCLN) last announced its quarterly earnings results on Tuesday, August 8th. The business services provider reported $15.14 EPS for the quarter, beating the Zacks’ consensus estimate of $14.25 by $0.89. The Priceline Group had a net margin of 20.51% and a return on equity of 33.10%. The firm had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter last year, the firm earned $13.93 EPS. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. On average, equities research analysts forecast that The Priceline Group Inc. will post $74.80 EPS for the current year.

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PCLN has been the subject of a number of research analyst reports. Morgan Stanley increased their price target on The Priceline Group from $1,950.00 to $2,100.00 and gave the company an “overweight” rating in a research report on Tuesday, July 18th. Cowen and Company reissued an “outperform” rating and issued a $2,000.00 target price on shares of The Priceline Group in a research report on Tuesday, May 23rd. Jefferies Group LLC reissued a “buy” rating and issued a $2,300.00 target price (up from $2,250.00) on shares of The Priceline Group in a research report on Thursday. Vetr raised The Priceline Group from a “hold” rating to a “buy” rating and set a $1,875.00 target price for the company in a research report on Wednesday, May 17th. Finally, J P Morgan Chase & Co raised their target price on The Priceline Group from $1,940.00 to $2,125.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The Priceline Group presently has a consensus rating of “Buy” and a consensus target price of $1,909.30.

In related news, CEO Gillian Tans sold 122 shares of the stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $1,949.47, for a total value of $237,835.34. Following the completion of the transaction, the chief executive officer now owns 5,922 shares of the company’s stock, valued at approximately $11,544,761.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jan L. Docter sold 1,500 shares of the stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $1,857.67, for a total transaction of $2,786,505.00. Following the completion of the transaction, the director now directly owns 346 shares of the company’s stock, valued at approximately $642,753.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,744 shares of company stock valued at $3,245,648. 0.42% of the stock is owned by insiders.

The Priceline Group Company Profile

The Priceline Group Inc is a provider of travel and restaurant online reservation and related services. The Company, through its online travel companies (OTCs), connects consumers wishing to make travel reservations with providers of travel services across the world. It offers consumers an array of accommodation reservations (including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties) through its Booking.com, priceline.com and agoda.com brands.

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Institutional Ownership by Quarter for The Priceline Group (NASDAQ:PCLN)

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